Report Code: A13111 | Pages: 280 | ||
Tables: 157 | Charts: 101 |
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The global edge AI hardware market size was valued at $6.88 billion in 2020, and is projected to reach $38.87 billion by 2030, registering a CAGR of 18.8% from 2021 to 2030. Edge AI hardware is a bunch of several devices that are utilized to power & process artificial intelligence-based robots & devices. These gadgets are utilized to coordinate and work on handling of artificial intelligence gadgets by processing information in the actual hardware.
The Automotive industry impacted negatively, due to COVID-19 Pandemic outbreak.
Growth of the global edge AI hardware market is anticipated to be driven by factors such as emergence of AI coprocessors for edge computing and rise in IoT application by various end user industries such as automotive, consumer electronics, among others. In addition, increase in real-time low latency on edge devices boosts the overall market growth. However, power consumption & size constraint acts as a major restraint for the global edge AI hardware industry. On the contrary, rise in demand and adoption of artificial intelligence products & services is expected to create lucrative opportunities for the market.
The global edge AI hardware market is segmented on the basis of component, device type, process, end user, and region. By component, the market is classified into processor, memory, sensor, and others. Depending on device type, it is categorized into smartphones, cameras, robots, wearables, smart speaker, and others. The process covered in the study include training and inference. On the basis of end user, it is classified into consumer electronics, smart home, automotive, government, aerospace & defense, healthcare, industrial, construction, and others.
Region wise, the edge AI hardware market trend is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America dominated the edge AI hardware market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the consumer electronics sector. However, Asia-Pacific is expected to witnesses significant growth rate by the end of the forecast period, followed by LAMEA.
Leading edge AI hardware manufacturers such as Intel Corporation, Samsung Electronics Co., Ltd., and Google Inc. are focusing on their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Prominent factors that impact the edge AI hardware market growth are rise in investments in AI startups and increase in demand for smart homes & smart cities. In addition, surge in need for automation & safety in organizations drives the edge AI hardware market growth. However, lack of awareness among SMEs restricts the market growth. On the contrary, growth in adoption of robotics technology in emerging countries is expected to create lucrative opportunities for the market.
Competitive Analysis
Competitive analysis and profiles of the major edge AI hardware market players such as Apple Inc., Google LLC (Alphabet Inc.), Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation (IBM), MediaTek Inc., Microsoft Corporation, NVIDIA Corporation, Qualcomm Technologies Inc., and Samsung Electronics Co. Ltd. (Samsung) have been covered in the report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
COVID-19 Impact Analysis
The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increase in panic among the customer segments.
Asian and European countries under lockdowns have suffered major loss of business and revenue, owing to shutdown of manufacturing units. Operations of production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted growth of the edge AI hardware market.
In addition, the COVID-19 pandemic has impacted the electronics sector, as production facilities have stalled, which, in turn, have propelled the demand for electronics and semiconductor products in the industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese part exports, which may hinder the market growth.
Key Benefits For Stakeholders
Edge AI Hardware Market Key Segments
By Component
By Device Type
By Process
By End User
By Region
Key Market Players
Edge AI Hardware Market Report Highlights
Aspects | Details |
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By Component |
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By Device Type |
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By Process |
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By End User |
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By Region |
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Key Market Players | Huawei Technologies Co., Ltd. (Huawei), International Business Machines Corporation (IBM), MICROSOFT CORPORATION, NVIDIA CORPORATION., MEDIATEK, INC., Samsung Electronics, Apple Inc., Qualcomm Technologies, Inc., INTEL CORPORATION, Google LLC (Alphabet Inc.) |
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Edge AI hardware devices use artificial intelligence & edge computing to run machine learning tasks directly on connected edge devices. It provides several advantages such as lower data transfer volume, speed for real-time computing, privacy & security, high availability, and cost. There are many applications of these hardware to be expected in the future in several areas such as smart AI vision camera, smart energy, AI healthcare, entertainment, smart factories, and intelligent transportation systems.
Growth of the global edge AI hardware market is anticipated to be driven by factors such as emergence of AI co-processors for edge computing, and rise in IoT application by various end user industries such as automotive, consumer electronics, among others. In addition, increase in real-time low latency on edge devices boosts the overall market growth. However, power consumption & size constraint acts as a major restraint for the global edge AI hardware industry. On the contrary, rise in demand and adoption of artificial intelligence products & services is expected to create lucrative opportunities for the edge AI hardware industry.
Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Acquisition and product launch are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region. However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of edge AI hardware in a variety of fields.
A. The Edge AI Hardware Market is estimated to grow at a CAGR of 18.8% from 2021 to 2030.
A. The Edge AI Hardware Market is projected to reach $38.87 billion by 2030.
A. To get the latest version of sample report
A. Rise in investments in AI startups and increase in demand for smart homes & smart cities etc. boost the Edge AI Hardware market growth.
A. The key players profiled in the report include Apple Inc., Google LLC (Alphabet Inc.), Intel Corporation, and many more.
A. On the basis of top growing big corporations, we select top 10 players.
A. The Edge AI Hardware Market is segmented on the basis of component, device type, process, end user, and region.
A. The key growth strategies of Edge AI Hardware market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
A. Asia-Pacific region would grow at a highest CAGR of 22.1% during the forecast period.
A. Processor segment will dominate the market by the end of 2030.
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